Keppel Limited

[CityFarmer]

The sector is having "structural decline", due to "no rig orders", "low-quality non-rig orders" and "customer delays and lack of payment"??

It is sounds more like a cyclical decline, than structural ones? Isn't it?  

Offshore marine stocks fall by as much as 5% after downgrading by Macquarie

SINGAPORE (Jan 7): Offshore marine stocks took a hit on Thursday, a day after Macquarie Research warned that the sector was in structural decline, and the business models of Singapore shipyards will face "immense pressure" in the next five years.
...
The sector faces a "triple whammy":  no rig orders, low-quality non-rig orders, and customer delays and lack of payment. These will result in a structural decline in returns and balance sheets, the broker reckons.
...
http://www.theedgemarkets.com/sg/article...-macquarie

they say that China are building more rigs now.. cheaper, and matching of quality..will our local shipyards be able to rebound strongly in the future?

China shipyards are still far from matching Keppel's in rig-building value chain, and productivity, IMO.